Tag: private equity

Private equity firm KKR hires Abhijit Sen from Citi as CFO for its India operations. The Carlyle group announces its second renminbi fund, in partnership with Fosun, with an initial capital of $100 million. Indian telecom tower management company Tower Vision raises $300 million of expansion capital from a consortium led by private equity firm Quadrangle Partners. Alex Ying and Anand Balasubrahmanyan are elevated to managing directors at the private equity firm, while Manoj Dengla has been promoted to director. Bank of America Merrill Lynch poaches Chris Gammons from Citi to head its private equity business in Asia. Korea's LG Household & Health Care pays $364 million to buy 90% of TheFaceShop from Affinity Equity Partners and the cosmetic chain's chairman. Tata Capital, the investment bank set up by India's Tata Group in 2007, hires Akhil Awasthi from Baring to head private equity. In a billion-dollar deal, private equity firm Carlyle swaps its stake in Taiwan's kbro to become the second-largest shareholder in Taiwan Mobile. Private equity firm Advent International poaches Shweta Jalan from ICICI Venture, shortly after receiving approval to open an India office. Prashant Purker from Nomura and Parth Gandhi from Navigator join ICICI Venture's private equity team in senior positions. The two are forming an asset management joint venture that will invest in core infrastructure in China, Hong Kong and Taiwan. Shanghai attracts global private equity with First Eastern announcing domestic private equity funds worth Rmb6 billion, while Blackstone intends to raise Rmb5 billion. Private equity firm Texas Pacific Group and China's Legend Holdings have agreed to invest $213 million for an 11% stake in Hong Kong-listed Wumart Stores. In advance of opening a full-fledged India office, financial sponsor Advent appoints P J Nayak, previously with UTI and Axis, as an operating partner. The private equity firm poaches Philip Levinson from Deutsche Asset Management to manage relationships with investors in the Asia-Pacific. Longstanding Deutsche Bank employee Ashok Aram joins the private equity firm as a managing director. Private equity investor and fund-of-funds manager Pantheon adds strength to its Asia team, appointing Brian Lim as principal. Simon Cooke moves to the Hong Kong office to work with Andrew Whan. As round-trip investments become harder to put in place, private equity firms may consider onshore transactions, according to a Dechert report. The UK private equity firm announces a downsizing that will see the Asian operations restructured or shut down, following a large decline in profits.